Prepare journal entry for each of transactions for james co

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During December of the current year, James Company acquired some of the 48,900 outstanding shares of the common stock, par $12, of Andrew Corporation as available-for-sale investments. The accounting period for both companies ends December 31.

Dec 2 Purchased 6,330 shares of Andrew common stock at $27 per share.
Dec 15 Andrew Corporation declared and paid a cash dividend of $3 per share.
Dec 31 Determined the current market price of Andrew stock to be $23 per share.

Problem 1:
Prepare the journal entries for each of the transactions that occurred during the current year.

Reference no: EM132864827

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